Thursday, January 26, 2012

Daily Headlines: Thursday, January 26, 2012

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Insurance Journal Daily Headlines
January 26, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

How Insurance Distribution Is Changing

Insurance distribution is changing and agents and brokers—retailers and wholesalers—have to define the value they offer and what type ...

Scientists Urge More Study of Nanotechnology Risks

Studying the potential health hazards of nanotechnology will require an additional $24 million a year to close the knowledge gap about the ...

Companies Partner on Smaller Earthquake Insurance Risks

Insurance Company of the West (ICW) and WKFC Underwriting Managers have announced a continued expansion of the relationship between the ...

Tougher U.S. Commercial Market Conditions in 2012: Marsh

U.S. commercial insurance rates are expected to climb across many lines of business in 2012, continuing a trend that began in the second ...

From MyNewMarkets.com Auto Insurers Find It Better to Forgive Than Lose Business

When insureds suffer a loss in most of the insurance market, they expect their rates to go up. However, insureds' expectations are changing...
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East

N.J., N.Y. Have Worst Tax Climates for Business, Report Says

New Jersey and New York have the worst tax climates in the nation for business, according to a new report by the Tax Foundation,a ...

U.K.-based Broker BMS Group Opens New York Office

The U.K.-based broker BMS Group said it has opened an office in New York City. The firm said the Park Avenue office in Manhattan will be ...

N.J. Amends 25% of PIP Reform Proposals, Reflecting Public Comments

New Jersey's Department of Banking and Insurance has amended some 25 percent of its personal injury protection (PIP) rule proposals, after ...

Mass. AG Calls Proposed Homeowners Premium Hike ‘Illegally Excessive’

Massachusetts Attorney General Martha Coakley is opposing a recently proposed home insurance rate request for 150,000 consumers, calling it ...

Penn.-based USG Insurance Services Appoints President

Canonsburg, Penn.-based USG Insurance Services appointed Timothy Horton as president of USG and subsidiaries. In this role, Horton will be ...
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Midwest

Missouri Regulators Recover a Record $21M from Insurers in 2011

Missouri insurance regulators say they returned a record amount in claims recoveries to consumers in 2011. An additional $21 million was ...

Illinois Nursing Homes to Get $110M in Federal Aid

Illinois is getting $110 million from the federal government to improve safety and staffing at nursing homes, Gov. Pat Quinn said. The ...

Iroquois Group Adds Members in Nebraska and Iowa

The Iroquois Group has expanded its presence in the Midwest to include Iowa and Nebraska. The insurance agency network has added seven ...

Foremost Launches Updated Auto Program in Illinois

Foremost Insurance Group has introduced its enhanced auto program in Illinois, featuring more competitive rates, new discounts, increased ...
Southeast

Kentucky Bill Would Allow Safety Tape for Amish Buggies

The Amish in Kentucky would not have to display reflective safety triangles on their horse-drawn buggies if a proposal by a state ...

The Politics of Florida PIP: Industry Looks on While Pols Seek Answers

Most agree that Florida's automobile no-fault personal injury protection (PIP) system needs to be reformed. But in the halls of the state ...

Florida Gov. Scott Leads a PIP Rally for Reform

Standing in the rotunda of Florida's capitol in Tallahassee on Wednesday, Florida officials and business leaders called on state ...
South Central

Lawmaker: Oklahoma Bill Would Help Homeowners with Insurance Claims

A bill filed in Oklahoma aims to help homeowners with insurance claim payments issued through mortgage companies. Legislation filed by ...

Stagner Joins Mullis Newby Hurst as Vice President

Addison, Texas-based Mullis Newby Hurst L.P. (MNH), which specializes in construction insurance and surety bonds, hired Scott Stagner as ...

Oklahoma Insurance Department Trims Budget by $675K in 2011

Oklahoma's top insurance regulator says the department spent nearly $675,000 less in 2011 than it did in 2010. For the 12 months ending ...
Sponsored by: Texas Mutual Insurance Company. It's hard to think safety as bringing in revenue to a client, but that's exactly what it's doing. Click here for more information.
West

Insurance Exchanges: The World Small to Rule the Big

A pair of industry experts espoused the benefits of insurance exchanges and small agencies today and in the future during the recent ...

Muslim Guard Gets $465,000 in California Harassment Suit

A San Francisco, Calif. jury has awarded $465,000 to a Muslim security guard who says his co-workers and supervisors called him a terrorist ...

Flood Damages 145 Vehicles in Oregon Motor Pool

The Oregon State Motor Pool says 145 vehicles were damaged when floodwaters inundated its parking lot Thursday in Salem. The Statesman ...

San Francisco City Worker Charged With Data Theft

A former San Francisco city employee is facing charges that she stole Social Security and other confidential information from more than ...

Small Quake at Mount St. Helens in Washington

A magnitude 3.4 earthquake occurred at 2:51 a.m. Wednesday about 10 miles north of Mount St. Helens. The Pacific Northwest Seismic Network ...

California Legislator: Feds Will Step Up Involvement in Insurance Industry

"Listen to me now, understand me later." State Sen. Juan Vargas, D-San Diego, gave a well-received Arnold Schwarzenegger impression, chest ...

Study: Recession Impacts California Workers’ Compensation

More people in California stayed on disability longer because a fewer "light duty" jobs are available in the down economy, authors of a ...

West Joins Dealey, Renton in Northern California as Senior Vice President

Dealey, Renton & Associates has named Morgan West senior vice president. West will be based in DRA's Oakland, Calif. office and will ...
International

U.S. Wholesale Broker AmWINS Completes Acquisition of London’s THB

U.S. insurance wholesaler AmWINS Group, Inc. has completed its previously announced acquisition of THB Group plc of London. THB, an ...

Fairfax Prem Watsa Brings Hope to RIM’s Restless Shareholders

The arrival of the man known as "the Warren Buffett of North" on Research In Motion's board this week offers a ray of hope to the ...

U.S. Eyes WTO Services Pacts Amid Doha Stall

The United States is making a push for a group of countries within the World Trade Organization to start talks to liberalize trade in ...

Everest Re Estimates Q4 Total Catastrophe Losses at $245 Million

The Bermuda-based Everest Re Group announced that it expects to incur net catastrophe losses of approximately $245 million, after ...
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New Discussions in the Forums

Ally Insurance Network
Posted: Thu Jan 26 -- Anyone have experience or thoughts about this group? It appears like some type of cluster of MGA but never heard of them.... broberts1963
Virginia Surety Writer in CA
Posted: Thu Jan 26 -- I need to find a way to get to Virginia Surety Company in CA Gail
SOCAL Brush
Posted: Wed Jan 25 -- My suggestion is to move on. When you have prospects with brush issues in California and Travelers and Hartford (two of the more liberal... d's insurance store
How have you Benefited from your Cluster Membership?
Posted: Wed Jan 25 -- Love, LOVE, SIAA. They were a God send when setting up my IA after 17 years with FIG. Helped me determine what carriers were competitive in... sacman

Reader Comments

Lawyer Hits Jailing of Amish Men in Kentucky Over Buggies
Posted: Mon Jan 23 -- This isn't just an "Amish thing", it has to do with safety on the roadway..PUBLIC roadways. It's fine if the Amish want to put *their*... Susan
Mississippi Supreme Court to Hear Grocery Store Parking Lot Beating
Posted: Mon Jan 23 -- INSANITY prevails. Come on, an armed guard in the parking lot? What a ridiculous presumption of safety. Shame on the jury of me, women and... reality bites
New Jersey High Court Clears County in Bicyclist's Death
Posted: Mon Jan 23 -- Sanity prevails! Seriously, a 1.5" deep hole? Tragic consequences indeed, but hardly an unnegotiable road hazard. Had it been a 1.5" bump,... reality bites
Workers' Compensation Turn a Profit? Fahgettaboudit!
Posted: Tue Jan 24 -- NCCI has been messing around with this for he past two years in their annual updates state-by-state. They won't come out and say,"Hey,... NG
Healthcare Individual Mandate Too Weak to Matter, Aetna CEO Says
Posted: Thu Jan 19 -- You knew I would weigh in, just as I knew you would. :) I know that agents will probably lose a share of their commissions. Again, I say too... The Other Point of View

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January 23, 2012

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